Today oil contango 1 year out is a very stout $16.88. The front end fell almost $2 and the future month was up a little. At this level, I estimate VLCC's can get up to $80,000/day for a full year storage contract. This is a very profitable level particularly considering the ship only as to fill up oil at spot, anchor for 50+ weeks and then deliver to the buyer.
The data presented is as of 4 PM EDT.